A clause providing for changes to the rent payable under a lease. The clause is drafted on the basis that the rent will change based on the Retail Prices Index (RPI) (although a different index can be specified). It provides for both a maximum and minimum increase at each review (often known as a capped and collared review or a capped and floored review). The clause provides for an indexed rent review that occurs less frequently than annually. While the cap and collar are based on cumulative maximum and minimum increases each year, there is no change to the rent between the specified dates for rent review.

For an example of a similar clause where the indexed rent review occurs annually, see Standard clause, Indexed rent review clause based on RPI subject to cap and collar (annual review).

The standard clause is drafted to fit into standard document commercial leases offered by Practical Law Property but can also be adapted for use in other leases.